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20121014
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CBS
Oct 11, 2012 5:00am PDT
about the fiscal cliff among politicians. the combination of tax increases and spending cuts scheduled to go into effect next january. so what should you be doing to prepare? jill schlesinger, editor at large for cbsmoneywatch.com, is here to tell us. good morning, jill. >> reporter: good morning. >> well, jill, many expect congress is going to hatch this temporary deal to prevent jumping off the cliff but what actions should people take if they don't? >> reporter: i think it's a great question because who really wants to put your financial future in congress' hands? here's what you can do right now. the current capital gains rate is 15%. that's scheduled to increase to 20% right after the first of the year. if your adjusted gross income is more than $200,000 as a single filer, 250 as a joint filer, the new healthcare reform will levy or could levy an additional surtax of 3.8% on capital gains. let's do the math for ya. that means capital gains rate for the wealthiest could go up to nearly 24%. so here's what you want to do. look in your taxable account. maybe you're sitting on some ga
CBS
Oct 12, 2012 5:00am PDT
, taxes and medicare with the democrat often on the attack. >> and they're holding hostage the middle class tax cut. it's about time they take some responsibility. >> reporter: but ryan fired back. he slammed the obama administration's economic record. >> this is not what a real recovery looks like. we need real reforms for a real recovery and that's exactly what mitt romney and i are proposing. >> reporter: after several heated exchanges ryan insinuated that president obama's performance last week was motivating the vice president's >> mr. vice president, i know you're under a lot of duress to paining up for lost ground. >> reporter: as for who won, it depends on how you ask. instant polls taken rye after the debate are mixed. -- in a cbs news poll of uncommitted voters, 50% thought the vice president run, 31% sided for ryan and 19% called it a tie. 56% thought biden would be an effective president if necessary compared with 49% for ryan. not surprisingly, both sides claimed victory. mitt romney's campaign said biden seemed off balance and strange. the president's team said the debat
Search Results 0 to 1 of about 2